Can I Sell My Leased Kia Car?

Understanding the Basics of Selling a Leased Kia Car

When you first lease a Kia car, it’s important to understand your lease equity. Essentially, this means that your Kia car will be worth more when your lease ends than the potential buyout that was written into the lease agreement.

This is a factor worth paying attention to as lease equity is forever yours. Since you’ve been making the monthly payments, your stake is what you’ve put into it. Should you be interested in selling the leased Kia vehicle, you have a few avenues to go down.

One such avenue to avoid, if possible, is returning the model early. Typically, the leaser will lay on penalty fees if you choose to prematurely end the lease. Because of this, the buyout price will be deducted, and the model will be listed at its lowest possible price. In turn, your lease equity reaches a low too.

Try Transferring or Buying Out the Lease

Although it’s not often mentioned, you have the ability to transfer your lease to an interested party. When the other person accepts responsibility of the lease, they then own possession of the Kia car and make the monthly payments. Beware, though: The leaser must be made aware of the agreement—and you will be held liable for the lease in the event of non-payment.

Additionally, you can buy out the lease at any point during the agreement. It’s not uncommon for drivers to promptly sell the model as soon as it’s bought out—but that does typically require a large sum of cash to do so. However, if you’re able to do so, the value of the ride is usually quite high with its low mileage and condition.

Just be sure to communicate with your leaser no matter the path you choose, so as to avoid any issues from arising.

Selling the Kia Car Outright

If you would rather sell the leased model without dealing with a transfer or buyout, finding a buyer may be the simplest option. In this case, it doesn’t matter how far along in the lease you are; once the sale is finalized, all you have to do is pay the leasee the amount owed on the lease. From the perspective of the lienholder, the lease has been bought out.

However, one drawback with this option may be the length of time it takes to deliver the title to the new owner. Typically, it may take anywhere from one to three weeks for the title to be sent out. If you choose to go this route, be sure the new owner is well aware of the situation, so as to avoid any miscommunication.